Thor Equities has purchased Michael Haddad’s 1165 Broadway for $56 million, Commercial Observer has learned.
The 58,000-square-foot office and retail building is in Manhattan’s NoMad district, at the corner of Broadway and 27th Street. It boasts full occupancy, according to Thor Equities.
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Current tenants include music publisher Primary Wave and luxury footwear brand Christian Louboutin. The high-end cosmetics brand Aesop operates a retail location on the ground floor, and the cafe chain Joe & the Juice sits several doors down.
The landmarked former hotel was designed and built by architect Charles Mellon in 1867, according to the building’s website. The five-story building was swept up in the area’s commercial transformation and reconstructed as a commercial building at the turn of the 20th century.
“1165 Broadway represents a compelling opportunity to acquire a fully leased asset in one of Manhattan’s most resilient markets,” Melissa Gliatta, chief operating officer of Thor Equities, said in a statement. “Strong tenant demand, limited new supply, and the neighborhood’s established appeal to creative office and retail tenants continue to support long-term value, and we are pleased to add this high-quality asset to our portfolio.”
Thor’s other recent Manhattan activity includes the $16 million refinancing of 139 Fifth Avenue in the Flatiron District, Traded reported, and a 10-year lease with L.A. Burdick Chocolates at nearby 933 Broadway.
Haddad could not be reached for comment by press time.
Clarification: This article was updated to reflect the correct seller.
Emily Davis can be reached at edavis@commercialobserver.com.